Interserve share price hits new lows: But hits back by insisting refinancing has not “stumbled” and talks are proceeding on time | City A.M. February 25, 2018 Troubled support services giant Interserve has come out fighting, insisting crucial talks with banks have not “stumbled”. Interserve is trying to agree new financing terms with its syndicate of lenders after delivering a profit warning last September. In December Interserve agreed a £180m emergency financing package. The funds came after the outsourcer said in October [...]
Bank of England’s deputy dove Sir Dave Ramsden says faster rate hikes are coming February 25, 2018 One of the Bank of England’s most dovish rate-setters has decided that signs of firmer wage growth mean interest rates need to rise more quickly, according to comments reported today. Sir Dave Ramsden, the Bank’s deputy governor, said that “relative to where I was, I see the case for rates rising somewhat sooner rather than [...]
UK housebuilder Persimmon’s profits to jump to £1bn as firm moves past pay controversy February 25, 2018 Persimmon’s profits are expected to jump close to the £1bn mark this week as the housebuilder continues to bat off criticism for the pay awards it handed to executives. Analysts are expecting pre-tax profits to rise 25 per cent, up from £775m to £965m, when the firm announces its 2017 figures on Tuesday. The news [...]
International trade secretary Liam Fox: UK must be a rule-maker, not a rule-taker, after Brexit February 25, 2018 Trade secretary Liam Fox said this morning that the UK should be a rule-maker, and not a rule-taker, after it leaves the European Union. Fox and his cabinet colleagues have been finalising the government’s Brexit position this week ahead of the UK’s negotiations with the EU on a future trade agreement. Read more: Keir Starmer [...]
EU-UK talks: Keir Starmer says the UK shouldn’t negotiate its own trade deals after Brexit February 25, 2018 Shadow Brexit secretary Keir Starmer has said this morning that the UK must stay in a customs union with the EU, and that it should not attempt to negotiate independent trade deals. Providing an update on Labour’s policy on Brexit, Starmer said “the benefits of the customs union must be retained” after March 2019. Read [...]
Warren Buffett annual letter: Berkshire Hathaway just made a record profit thanks to US tax changes February 24, 2018 Berkshire Hathaway, the business headed up by legendary investor Warren Buffett, today reported a record annual profit after Donald Trump’s tax changes boosted its earnings by more than $29bn (£21bn). The figures The company’s full-year earnings shot up 87 per cent to $44.9bn, though Buffett admitted only $36bn came from Berkshire’s operations. Operating profit fell [...]
NRA boycott: Companies like Delta, Hertz and Chubb have ditched the National Rifle Association (NRA) February 24, 2018 A number of companies have cut ties with the US National Rifle Association (NRA) as outrage bubbles up following a deadly high school shooting in Florida. More than a dozen firms including Delta Airlines have ended their corporate partnerships with the controversial organisation as pressure builds from supporters of gun control, led on Twitter by [...]
London UK weather: “Beast from the east” brings a blast of cold as the Met Office says snow is on the way February 24, 2018 Next month could be the coldest on record as the so-called beast from the east brings about the chilliest spell of weather for several years. A cold easterly wind will cause temperatures to drop below 0 °C with the wind chill, and snow showers are expected to develop widely, with some places seeing as much [...]
Iain McNicol, Labour’s general secretary, has stepped down February 24, 2018 Labour’s general secretary Iain McNicol has stepped down to “pursue new projects” on behalf of the party and the wider Labour movement, the party announced last night. McNicol, who was in charge of employing staff, running campaigns and organising conferences, thanked his staff for their work during a “tumultuous seven years”. “I will continue to [...]
Plastic tenner: You’ve got less than a week to spend your old paper £10 notes February 24, 2018 Time to get shopping: there’s now less than a week to go until the paper £10 note is no longer legal tender. The Bank of England has said the old tenner, which features Charles Darwin, will officially have its legal tender status withdrawn as of one minute before midnight on 1 March. The Bank earlier [...]